Why Australian College Graduates Feel Sorry for Their American Counterparts
The View through America
There was very little defense of the U.S. system through Americans. The system’s complexity can lead to many problems.
The cost of student loan debt, repayment in addition to default, when spread over the economy as a whole, is actually one of the main stumbling blocks toward economic prosperity (if not THE main stumbling block). On a personal level, my friends in addition to I marvel each month at the amounts we are paying; “if only we were spending which money on [insert name of slow-growth sector of the economy]!”
Something touched upon inside article is actually the fact which repayment inside United States is actually not through the tax system. Instead, the idea occurs through quasi-private, quasi-governmental (read: quasi-horrible) agencies. — Bo Shoemaker, Rochester
‘Threatens the Future of the U.S.’
The college debt situation threatens the future of the U.S. The best in addition to brightest may not be able to take on debts, or may be forced to choose careers for which they are overqualified. Meanwhile, Europe is actually investing in its best in addition to brightest. Even undocumented immigrants who meet the qualifications for university entrance do not pay tuition. For the long term, I’m putting my bets on Europe to produce the most effective young work force. — Eddie, anywhere
‘Makes Me Nauseous’ to Write which
The interest rate charged on student loans inside U.S. is actually beyond ridiculous. My average interest rate for all my loans is actually 7.2 percent; of the $80,000 I’ve paid back since I graduated six years ago, $50,000 has gone toward interest. the idea makes me nauseous just to type the idea out. — Joseph, Brooklyn
The View through Elsewhere
In Germany, ‘Everyone Appreciates the Federal Support’
I am attending a German university. Most universities in addition to colleges are public ones in addition to are considered to be the best. There are no fees for higher education; instead, the German federal state offers loans for living costs.
No student which I know here is actually therefore in high debt in addition to everyone appreciates the federal support for higher education (called Bafög). No German actually understands why American or English colleges are so expensive (also the reason very few German students go abroad for their entire studies). — Melissa, Munich